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Pope Benedict XVI has called for a new world financial order guided by ethics and the search for the common good.Related articles by Zemanta
He condemned the profit-at-all-cost mentality and blamed it for bringing about the global financial meltdown.
In the third encyclical of his pontificate, Benedict also pressed for reform of the UN and international economic and financial institutions to give poorer countries more of a say in international policy.
"There is urgent need (for) a true world political authority" that can manage the global economy, guarantee the environment is protected, ensure world peace and bring about food security for the poor, he wrote.
The document, Charity in Truth, was in the works for two years, and its publication was repeatedly delayed to incorporate the fallout from the crisis.
It was released on Tuesday - the day before leaders of the G8 industrialised nations meet to co-ordinate efforts to deal with the global meltdown, signalling a clear Vatican bid to prod leaders for a financially responsible future and what it considers a more socially just society.
"The economy needs ethics in order to function correctly - not any ethics, but an ethics which is people centred," Benedict wrote.
German-born Benedict, 82, has spoken out frequently about the impact of the crisis on the poor, particularly in Africa, which he visited earlier this year.
But the 144-page encyclical, one of the most authoritative documents a pope can issue, marked a new level of church teaching by linking the Vatican's long-standing social doctrine on caring for the poor with current events.
While acknowledging that the globalised economy had "lifted billions of people out of misery", Benedict blamed the unbridled growth of recent years for causing unprecedented problems as well, citing mass migration flows, environmental degradation and a complete loss of trust in the world market.
Copyright © 2009 The Press Association. All rights reserved.
- Pope proposes new financial order guided by ethics (ctv.ca)
- In Encyclical, Pope Proposes New Financial Order (nytimes.com)
- Pope urges new financial order guided by ethics (msnbc.msn.com)
- Pope Urges New World Economic Order (nytimes.com)
- Pope urges ethical side to global capitalism (guardian.co.uk)
- Greed behind crisis, warns Pope (news.bbc.co.uk)
Image via Wikipedia
Pope Benedict XVI has called for a new world financial order guided by ethics and the search for the common good.Related articles by Zemanta
He condemned the profit-at-all-cost mentality and blamed it for bringing about the global financial meltdown.
In the third encyclical of his pontificate, Benedict also pressed for reform of the UN and international economic and financial institutions to give poorer countries more of a say in international policy.
"There is urgent need (for) a true world political authority" that can manage the global economy, guarantee the environment is protected, ensure world peace and bring about food security for the poor, he wrote.
The document, Charity in Truth, was in the works for two years, and its publication was repeatedly delayed to incorporate the fallout from the crisis.
It was released on Tuesday - the day before leaders of the G8 industrialised nations meet to co-ordinate efforts to deal with the global meltdown, signalling a clear Vatican bid to prod leaders for a financially responsible future and what it considers a more socially just society.
"The economy needs ethics in order to function correctly - not any ethics, but an ethics which is people centred," Benedict wrote.
German-born Benedict, 82, has spoken out frequently about the impact of the crisis on the poor, particularly in Africa, which he visited earlier this year.
But the 144-page encyclical, one of the most authoritative documents a pope can issue, marked a new level of church teaching by linking the Vatican's long-standing social doctrine on caring for the poor with current events.
While acknowledging that the globalised economy had "lifted billions of people out of misery", Benedict blamed the unbridled growth of recent years for causing unprecedented problems as well, citing mass migration flows, environmental degradation and a complete loss of trust in the world market.
Copyright © 2009 The Press Association. All rights reserved.
- Pope proposes new financial order guided by ethics (ctv.ca)
- In Encyclical, Pope Proposes New Financial Order (nytimes.com)
- Pope urges new financial order guided by ethics (msnbc.msn.com)
- Pope Urges New World Economic Order (nytimes.com)
- Pope urges ethical side to global capitalism (guardian.co.uk)
- Greed behind crisis, warns Pope (news.bbc.co.uk)
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